tag:blogger.com,1999:blog-4921988708619968880.post6976602001863715102..comments2024-02-28T22:03:57.237-05:00Comments on The Automatic Earth: Debt Rattle, May 30 2008: The InevitableIlargihttp://www.blogger.com/profile/09698428009501267664noreply@blogger.comBlogger22125tag:blogger.com,1999:blog-4921988708619968880.post-66866236884476747152008-05-31T11:31:00.000-04:002008-05-31T11:31:00.000-04:00Scrap steel anonymous:“By haveing let Bush, and th...<B>Scrap steel anonymous:</B><BR/><I>“By haveing let Bush, and the oily companies run the world, we are looking at a very dim future.”</I> <BR/><BR/>Corporate vetted presidential candidates are part of a staged Democracy charade to begin with. We let the one which sports the bigger flag lapel pin rule. So Gore actually won the election after all; but there was a coup! The elites were fighting Bigelowhttps://www.blogger.com/profile/16883913065391637120noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-91711498654813788472008-05-31T10:14:00.000-04:002008-05-31T10:14:00.000-04:00Ilargi,I notice a couple of days ago a slight chin...<I>Ilargi,<BR/><BR/>I notice a couple of days ago a slight chink in your “armor of certainty” that we were going into a deflationary depression. You seemed to leave the door open to the possibility that what we could be going into a hyperinflationary depression. </I><BR/><BR/>I guess I need to state that I never said any such thing. It's not possible to defuse all words people put in one's mouth,Ilargihttps://www.blogger.com/profile/09698428009501267664noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-30851092388024275112008-05-31T09:05:00.000-04:002008-05-31T09:05:00.000-04:00Ilargi- " If there's one thing you can say about M...Ilargi- " If there's one thing you can say about Mankind; there's nothing kind about man."<BR/><BR/>sigh. yeah, I have days like that too. You might like e.e. cummings version: <BR/><BR/>pity this busy monster, manunkind<BR/>not<BR/><BR/>that poem ends with, as I recall-<BR/><BR/>us doctors know a hopeless case when we see one.<BR/>hey, there's a helluva good universe next door; let's go.<BR/><Greenpahttps://www.blogger.com/profile/17224906349154302210noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-7728215275213010542008-05-31T02:03:00.000-04:002008-05-31T02:03:00.000-04:00Babes in the woods.Babes in the woods.VLADhttps://www.blogger.com/profile/07303463697333210934noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-84144658752079560852008-05-31T01:36:00.000-04:002008-05-31T01:36:00.000-04:00I have seen upclose a indicater that troubles me,s...I have seen upclose a indicater that troubles me,specificly ,the price for scrap steel.I dont know who,{probablly chinese}but someone is paying 40-50c a lb for any and all scrap steel here,which is causeing chaos.I keep thinking that somewhere someone is stockpileing a whole lot of refined steel with which to continue manufactureing even if the usa is not shipping.<BR/> This can also apply to Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-80263783052418949172008-05-31T01:19:00.000-04:002008-05-31T01:19:00.000-04:00Spinlilly's right. Looking past housing prices at...Spinlilly's right. Looking past housing prices at household incomes, or (Gasp!) personal incomes...and the and we seem little of the froth the financial media gushed over the last 8 years or so.. People didn't go in for real expensive homes (on average) because they were making more money than before (on average). So, people have had to simply sunk more and more of what income they had into Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-44449491903660380312008-05-30T22:17:00.000-04:002008-05-30T22:17:00.000-04:00What I wanted to get across is that I think we sho...What I wanted to get across is that I think we should use another indicator of spreading economic malaise besides home prices. There is more than one way to look at home prices, and whom high or low prices are good for. It's rather like a pyramid scheme in that the sooner you bought in the better you're doing.<BR/><BR/>I think we might consider using income vs. prices or some other indicator of spinlilyhttps://www.blogger.com/profile/01399816284922227028noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-39496892962299873792008-05-30T20:35:00.000-04:002008-05-30T20:35:00.000-04:00I think if I showed up, like a tramp on a dark day...I think if I showed up, like a tramp on a dark day at spinlily's home, I would likely find a hot meal and a welcome.<BR/><BR/>As far as a well reasoned response to your feelings, about the many renters struggling to survive rent increases, you are told they would be foolish to 'buy a house'? I would expect the next advice to be that they should eat cake instead of bread.<BR/><BR/> <BR/><BR/><BR/>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-53506294377189485482008-05-30T19:07:00.000-04:002008-05-30T19:07:00.000-04:00Outtacontrol,Sorry for implying that your original...Outtacontrol,<BR/><BR/>Sorry for implying that your original post was not well reasoned. It was a mean spirited thing to say and I apologize.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-65527743504070456972008-05-30T18:45:00.000-04:002008-05-30T18:45:00.000-04:00I read The Economic Hitman. I guess my point is ho...I read The Economic Hitman. I guess my point is how can you squeeze more blood out of the turnip. Seems like the turnips are pretty well sucked dry at this stage. The populations of these countries are now dirt poor, as well as shortly-to-be-starving. I'm thinking the Bank is desperate because if social unrest, riots, chaos ensue...they won't get ANY of their previous loans repaid.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-69635744462458469232008-05-30T18:33:00.000-04:002008-05-30T18:33:00.000-04:00That guy is Outta Control, I tell you. Which is ki...That guy is Outta Control, I tell you. Which is kind of a warning?!<BR/><BR/>Apart from the perceived albeit not intended exasperated/rating hostility, he makes some valid points though. There's a lot more costs in owning a home than just mortgage payments, for one thing.<BR/><BR/>And spillinly sort of started, saying (s)he is tired of hearing complaints about high home prices. Fine and nice thatIlargihttps://www.blogger.com/profile/09698428009501267664noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-41329564193750332492008-05-30T18:30:00.000-04:002008-05-30T18:30:00.000-04:00Judy,The book Confessions of an Economic Hitman wi...Judy,<BR/><BR/>The book <A HREF="http://www.economichitman.com/pages/bookpages/excerpt.html" REL="nofollow">Confessions of an Economic Hitman</A> will partly answer your question.<BR/>(The link is a book excerpt)Farmerodhttps://www.blogger.com/profile/03492165772535123915noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-18790271181128265672008-05-30T17:42:00.000-04:002008-05-30T17:42:00.000-04:00I have questions about the WB loans/grants program...I have questions about the WB loans/grants program. I know that they have routinely used loans to "enslave" (turn the people into debt slaves) other countries. So how is it supposed to work in this instance? My impression is that these countries are already on the financial ropes.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-48042913377089473942008-05-30T17:25:00.000-04:002008-05-30T17:25:00.000-04:00Ilargi, I watched a film , a film that has haunted...Ilargi, I watched a film , a film that has haunted me all day. It is a moving picture response to your recent question, " What Is Life Worth".<BR/>It is a vision of 2027, not all that far away. The film's images resonate with the photographs you have been sharing of The Great Depression.. Just a time difference.<BR/>I recommend " The Children Of Men".<BR/>Please view without the children present.scandiahttps://www.blogger.com/profile/07924260428840006237noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-32137000758933930162008-05-30T16:18:00.000-04:002008-05-30T16:18:00.000-04:00spinlily et alI was going for exasperation, not ho...spinlily et al<BR/><BR/>I was going for exasperation, not hostility.<BR/><BR/>You see, I might be convinced to have sympathy for someone who had been renting up until a couple of years ago and then bought something at the top of the market especially if that person had been more-or-less duped into such a deal. But a renter-sympathy graph would be closely aligned with house prices.<BR/><BR/>Farmerodhttps://www.blogger.com/profile/03492165772535123915noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-71894459334541124342008-05-30T15:44:00.000-04:002008-05-30T15:44:00.000-04:00Spinlily, don't let outacontrol chase you from thi...Spinlily, don't let outacontrol chase you from this site. Most comments are well reasoned and respectful.<BR/><BR/>My question is who will own all the houses in 20 years? The banks? Warren Buffett? Drug dealears? The government? Sovereign wealth funds? Or will they all be bulldozed while we live in caves?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-38885568603200033842008-05-30T15:40:00.000-04:002008-05-30T15:40:00.000-04:00The above "anonymous" post was from me. Screwed u...The above "anonymous" post was from me. Screwed up the comment thing.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-86951888956135677502008-05-30T15:38:00.000-04:002008-05-30T15:38:00.000-04:00Ilargi,I notice a couple of days ago a slight chin...Ilargi,<BR/><BR/>I notice a couple of days ago a slight chink in your “armor of certainty” that we were going into a deflationary depression. You seemed to leave the door open to the possibility that what we could be going into a hyperinflationary depression. I think this is what happened in the Weimar Republic or right now under Mugabe in Zimbabwe. I do not see this phrase as an oxymoron. IfAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-60582890886226622652008-05-30T15:37:00.000-04:002008-05-30T15:37:00.000-04:00I agree, spinlily, that outtatcontrol was unwarran...I agree, spinlily, that outtatcontrol was unwarrantedly hostile. You apparently bought your house quite a while ago before the inflationary boom took hold since your expenses are reasonable and not creating hardship. If one had a crystal ball, I guess the strategic thing to do would be to have sold your house at the peak, and then rent until the market bottoms out. But good crystal balls are Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-86698118075882568612008-05-30T15:17:00.000-04:002008-05-30T15:17:00.000-04:00That's a bit hostile.Even if our house were worth ...That's a bit hostile.<BR/><BR/>Even if our house were worth nothing, we would have paid low rent for some time. We got a good deal. We were lucky.<BR/><BR/>I promise I won't come back and complain, and I don't know why anyone would come back in any case if they are greeted by comments like yours.spinlilyhttps://www.blogger.com/profile/01399816284922227028noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-72816628759156198662008-05-30T14:45:00.000-04:002008-05-30T14:45:00.000-04:00spinlily, renters will get lower prices soon, I'd ...spinlily, renters will get lower prices soon, I'd think. As more houses become vacant and prices decline, more rental supply will be created, driving down prices. So renters don't need sympathy so much as wisdom not to buy a house at the moment.<BR/><BR/>As for you and your equity; I'll suggest that the comfort you currently have with your mortage payments will decline as your equity shrinks atFarmerodhttps://www.blogger.com/profile/03492165772535123915noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-84093505987774858992008-05-30T13:38:00.000-04:002008-05-30T13:38:00.000-04:00I'm tired of hearing how terrible it is that real ...I'm tired of hearing how terrible it is that real estate prices are tumbling. They still haven't tumbled down to affordable, and many renters are struggling terribly to survive frequent rent increases.<BR/><BR/>Yes, the equity on our home has gone down, but we still have a home, and our mortgage payment is only half what an equivalent rent payment would be. We have shelter. Let's have some spinlilyhttps://www.blogger.com/profile/01399816284922227028noreply@blogger.com